The weight of a gold coin can vary considerably, but most gold coins are measured in troy ounces, a unit of measure for precious metals.
Here’s a summary of gold coin weights:
- Most popular weight: 1 troy ounce (approximately 31.1 grams).
- Common fractional weights: 1/2 oz, 1/4 oz, 1/10 oz.
- Other available weights: Gold coins can range from 1 gram to 1 kilogram, with some even as small as 1/20 troy ounce or as large as one metric ton.
- American Gold Eagle (1 oz): Weighs approximately 33.93 grams, containing 1 troy ounce of gold (91.67% pure) alloyed with silver and copper to increase durability.
- Canadian Gold Maple Leaf (1 oz): Weighs 31.1 grams (1 troy ounce) and is made of .9999 fine gold.
- South African Krugerrand (1 oz): Weighs 33.93 grams (1.09 troy ounces) and contains 1 troy ounce of gold (.9167 fine).
It’s important to note that coins may be alloyed with other metals for durability, so the gross weight may be slightly higher than the pure gold content.
Why does 1 oz gold coin say $50?
While their actual selling price (purchasing power) varies based on the spot price of gold, these coins carry face values of $5, $10, $25, and $50. These are their legal values, reflecting their issue and monetized value as “Gold Dollars”, as opposed to standard bullion.
Why is it illegal to own a $20 gold piece from 1933?
Currently, with the exception of the one sold on July 30, 2002, 1933 double eagle coins cannot be the legal possession of any member of the public, as they were never issued and hence remain the property of the United States government.